Code Of Banking Practice

Frequently asked questions regarding the complaints procedure to the banking adjudicator

WHO MAY COMPLAIN?

Any customer of a bank with a turnover of less than R3 million for the last financial year.

WHAT CAN I COMPLAIN ABOUT?

Complaints to the Adjudicator must relate to
• the products of your bank; or
• services and advice given by your bank’s own staff, even if the product of another institution is the subject of the service; or
• services and advice given by your bank’s agents in relation to your bank’s own products.

WHEN CAN I COMPLAIN?

It is important that you lodge the complaint with your bank first. This will give them the opportunity to investigate the matter and to resolve the issues you are complaining about. If you still feel that your complaint is unresolved (after you received an answer from your bank), then you can approach the office of the Banking Adjudicator.

HOW WILL COMPLAINT BE TREATED?

First of all, the Adjudicator’s office will need proof from you that you referred the complaint to your bank and that you are not satisfied with the outcome of that process. He will then accept your complaint and refer it to a designated person or office at your bank. The Adjudicator will give your bank a certain time to respond to his office with all the relevant details on your complaint.

HOW WILL MY COMPLAINT BE RESOLVED?

The Adjudicator will make a ruling on a matter, based on the facts at his disposal, if the legal aspects and principles are reasonably clear. The Adjudicator will make a recommendation on a matter if the law is uncertain or if he is relying on the Code of Banking Practice.

ACCEPTANCE BY BANKS

If the bank does not accept a ruling made by the Adjudicator, it can appeal to an appeal panel, consisting of three retired high court judges. If the customer is not satisfied with the ruling, the matter can be pursued through the normal court process. A Bank shall not be bound to accept a recommendation made by the Banking Adjudicator, but if it does not do so, the Banking Adjudicator shall have the power, at
his or her discretion, to publish the recommendation and the fact that the Bank has refused to abide by it. The decision of the Banking Adjudicator on this issue shall not be subject to appeal.

CONTACT DETAILS OF THE BANKING ADJUDICATOR

P O Box 5728
Johannesburg
2000

3rd floor
17 Harrison street
Johannesburg, 2001
Tel: (011) 838 0035/38/39
Fax: (011) 838 0043
email: Jodd@banking.org.za

 

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